Wameja Limited HomeSend Facility Second Drawdown and Amendment (2552R)
28 Octubre 2019 - 1:00AM
UK Regulatory
TIDMWJA
RNS Number : 2552R
Wameja Limited
28 October 2019
Wameja Limited ("Wameja" or the "Company")
HomeSend Facility Second Drawdown and Amendment
28 October 2019
Wameja (LSE: WJA.L & ASX: WJA.AX), a joint venture partner
with Mastercard in the HomeSend global payment hub, announces that
it has today remitted EUR1,784,071 to HomeSend SCRL under the loan
facility agreement announced on 16 May 2019. The funds were
provided following the second drawdown request issued by HomeSend
SCRL for a total of EUR5,000,000, in aggregate, from Wameja and
Mastercard. This is approximately a 70% increase to the funds
currently utilised by HomeSend for funding the pre-payment timing
gaps in its settlement model.
The drawdown is required to support the increase in gross value
flows anticipated to occur as a number of implementations of
various sizes commence commercial transactions this quarter on the
HomeSend global payment hub.
In addition, the parties have agreed to reduce the term of the
loan facility by 9 months, to 31 March 2020. Either party may give
three months' notice of its desire to extend the term of the loan
facility and the parties must negotiate the extension of the term
in good faith, but there is no obligation to agree to an extension
of the term beyond 31 March 2020.
HomeSend continues to evaluate its funding requirements and the
optimal solution for liquidity funding to support the business's
growth into 2020 and beyond. Wameja is also independently
investigating third-party facilities as an alternative to
shareholder funding for HomeSend.
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. The above notification
is made in accordance with the requirements of the EU Market Abuse
Regulation.
For further information, please contact:
Wameja Limited www.wameja.com
John Conoley, Executive Chairman investors@wameja.com
Tom Rowe, Company Secretary
Alison Cheek, VP Corporate Communications
finnCap Limited (Nomad and Broker) www.finnCap.com
Corporate Finance: Jonny Franklin-Adams / T: +44 (0) 20 7220
Anthony Adams / Hannah Boros 0500
Corporate Broking: Tim Redfern / Richard Chambers
About Wameja
Wameja and Mastercard are joint venture partners of the HomeSend
global payment hub. HomeSend enables cross-border transfer between
bank accounts, cards, mobile wallets, or cash outlets from anywhere
in the world. As a founding partner in the HomeSend hub, Wameja
helped conceive and bring the opportunity to market.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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